Google: “Cryptocurrency Isn’t Real Money”-Google recently revealed its feelings about Bitcoin and other cryptocurrencies through an ad for its new ‘Call Screen’ service in its tongue-in-cheek advertisement.
This put-down was divulged in a recent ad run by Google on Youtube which features a young man (Teddy) and a young American woman (Abby) arguing over cryptocurrency. The ad was made to promote Google’s new ‘Call Screen’ service. Furthermore, Which allows users to interact with callers prior to answering the phone.
The ad involves two characters who are seen as testing out the new feature of the call screen service. During the ad, one of the characters, Teddy receives a phone call that warns him of his high electricity bill.
Immediately he replies that he mines cryptocurrency, which “takes a lot of energy”
“Cryptocurrency? That money’s not real,” Abby says.
“Yeah, well I’ve got news for you: money isn’t real,” Teddy replies.
“You gonna live that lie?” Abby retorts as the ad concludes.
Google’s on and off opinions on cryptocurrency:
Google: “Cryptocurrency Isn’t Real Money”-In March 2018, Google, along with other major ad companies including Facebook, decided to ban cryptocurrency and initial coin offering promotional material from its entire ad platform. Similarly, warning that risky investments in this and other financial sectors had the potential to harm retail investors. This ban went into effect later in the year, in June.
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.” -Google’s Director of Product, Scott Spencer.
A few months later, Google lifted the ban. And said that it will allow advertising for regulated cryptocurrency exchanges based in Japan and the US starting from October. Later on, in July, Google also partnered up with a company which provides distributed ledger technology to enhance its Google Cloud Platform.
Recently, Google decided to respond to the exponentially growing threat of cryptocurrency mining malware by banning complicated Chrome extensions that include mining scripts. Some of these extensions had purposes such as:
- Allowing a user to donate their idle computer resources to mine coins for charity
- Malicious developers and hackers developing mining scripts which are in other extensions that are designed completely for different functions